Tag: Ghana Business News
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Former lands minister calls for regulation of galamsey operations
A former minister of Lands and Natural Resources and now Minister of Roads and Highways Alahaji Inusah Fuseini has called for the licensing of galamsey operators in the country. According to Alahaji Inusah Fuseini the move will ensure proper regulation of the activities of the miners. Speaking to Citi Business News Alahaji Inusah Fuseini said…
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First creditors meeting for DKM customers scheduled
Citi Business News has gathered that the Official Liquidator of the embattled microfinance company DKM has called for a first creditors meeting with the customers. In a statement copied to Citi Business News the Official Liquidator urged all affected customers to be at the said meeting to be held in the Brong Ahafo, Upper East,…
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BDCs debt payment plan with Govt in limbo?
Fears of a likely collapse of a number of banks in the country have been reinforced following new revelations that government may not abide by the agreed payment plan to clear debts owed banks by Bulk Oil Distribution Companies (BDCs). Government is currently indebted to about 17 Bulk Distribution Companies (BDC)s in excess of…
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ECG concession will protect workers for 5 years- MiDA
The Millennium Development Authority (MiDA) has insisted that the concession of the Electricity Company of Ghana (ECG) under the Power Compact II will not lead to a retrenchment exercise. According to MiDA, the agreement has a clause that bars the concessionaire from undertaking a retrenchment exercise in the next five years. The Public Utility Workers…
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Biz of Elections: NDC’s manifesto promise on agric
The National Democratic Congress (NDC) flag bearer for the December elections, President John Mahama, has stated the next NDC administration after 2016 will roll out a number of initiatives aimed at boosting the agric industry. The sector has seen massive decline in growth over the years due to the absence of modern agricultural practices, weather patterns…
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High unemployment due to poor educational system- IHRMP
The Institute of Human Resource Management Practitioners (IHRMP)-Ghana has called for a redesign of the educational system to match the country’s human resources to what is needed by industries. According to the Institute, its study has shown that the unemployment rate keeps going up due to the inability of the educational systems to produce human…
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8 banks on the verge of collapse – Bawumia
A former deputy Governor of the Bank of Ghana and the running mate of the NPP Dr. Mahamudu Bawumia has warned that eight banks in Ghana risk collapse due to the continuous hikes of bad loans on their books. “The asset quality review of banks, conducted in 2015, shows significant vulnerability of banks to current…
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My govt will maintain stability, fiscal discipline- Nana Akufo Addo
The Flagbearer of the opposition New Patriotic Party (NPP), Nana Akufo Addo has assured members of the Ghana Employers Association (GEA) that his administration will maintain macroeconomic stability and restore fiscal discipline if voted into power. According to him, the current economic conditions in the country is stifling the private sector as cost of borrowing…
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Bawumia selectively used debt figures – Terkper
Finance Minister, Seth Terkper has accused the New Patriotic Party’s (NPP) running mate for the 2016 elections, Dr. Mahamudu Bawumia of selectively using the data on government for his lecture on Thursday, September 8, 2016. According to Mr. Terkper, it is unrealistic for the NDC to borrow 39.9 billion US dollars as announced by Dr.…
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Ghana’s debt to reach $42b by December 2016 – Bawumia
New Patriotic Party’s (NPP) running mate for the 2016 elections, Dr. Mahamoud Bawumia, has chastised government’s continuous borrowing warning that the country’s debt in dollar terms, would reach as much as $42 billion dollars by the end of December 2016. Speaking at a lecture titled, ‘The State of the Ghanaian Economy – A Foundation of…